Major league baseball salaries averaged $1.5 million with a standard deviation o

Question

Major league baseball salaries averaged $1.5 million with a standard deviation of $0.8 million in 1994. Suppose a sample of 100 major league players was taken. Find the approximate probability that the average salary of the 100 players exceeded $1 million. a) Approximately 0 b) 0.2357 c) 0.7357 d) Approximately l At a computer manufacturing company, the actual size of computer chips is normally distributed with a mean of l centimeter and a standard deviation of 0.1 centimeter. A random sample of 12 computer chips is taken. What is the standard error for the sample mean? a) 0.029 b) 0.050 c) 0.091 d) 0.120 12 The owner of a fish market has an assistant who has determined that the weights of catfish are normally distributed, with mean of 3.2 pounds and standard deviation of 0.8 pound. If a sample of 25 fish yields a mean of 3.6 pounds, what is the Z-score for this observation? a) 18.750 b) 2.500 c) 1.875 d) 0, 750 The owner of a fish market has an assistant who has determined that the weights of catfish are normally distributed, with mean of 3.2 pounds and standard deviation of 0.8 pound. If a sample of 16 fish is taken, what would the standard error of the mean weight equal? a) 0.003 b) 0.050 c) 0, 200 d) 0.800 The owner of a fish market has an assistant who has determined that the weights of catfish are normally distributed, with mean of 3.2 pounds and standard deviation of 0.8 pound. What percentage of samples of 4 fish will have sample means between 3.0 and 4.0 pounds? a) 84% b) 67% c) 29% d) 16%

Explanation / Answer

10)

average salary = 1.5

standard deviation = 0.8

sample size = 100

standard deviation of average salary of 100 players = (standard deviation )/n = 0.8/100 = 0.08

z value for 1 is (1-1.5)/0.08 = -6.25, correspoding p value using z-table is approximately 0

P(X<1) = approximately 0

so P(X>1) = approximately 1

probaity that a average salary of 100 players will exceed $1 is approximately 1

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